dealing with Nationwide re: totalling my bronc

[cisco]

just wondering if anyone out there can clue me in on what to expect.

the truck is a 74 blue/white, uncut, auto with factory air, pretty much stock all around.

its been many years since i was involved in any car accidents. a month or so after i bought the truck someone crashed into the side of it. Nationwide has said that the truck is considered totalled, and its value is $1,400.00.

Yesterday i faxed them a bill of sale showing i paid $5,000.00, some ebay sales sheets (anywhere from $5,000.00 to $9,000.00) and a printout of the NADA value ($5,100.00).

Luckily, the truck is still very driveable. The adjuster who is handling my claim happens to have sold an EB of his own a year or so ago - so he knows the true value of the truck. He was already familiar with some of the EB sites online..

So I'm just wondering- how long will all this take? Should I get a lawyer? How little should I settle for? The truck is in OK shape all around, never restored and it is my daily driver.

thanks yall..

(i posted this awhile ago, but here it is again - http://www.studiocisco.com/crash)

 

[BG's 68 Bronco]

Have you ever had an appraisal done. I don't know if its feasible in the U.S. I had to do it to get my insurance, which is a specialty insurance for classics, but is a steal at $100/year full coverage (there technically are stipulations on how much you can drive it but who's going to find out, it's a risk I'll take). The insurance company I deal with for my other vehicles had warned me they would only go by black book pricing which means it would be valued at like $1000 CAD, as a result if I got into an accident I would be facing the same issue as you.

Sorry to here your trouble.

Best of Luck

Barret

 

[trailpsycho]

I cant believe that is totalled. Did you go out and get some of your own appraisals to get it fixed? It doesnt look like $5000 worth of damage. I would think you could fix it for less than half of that. I wouldnt accept it as totalled and I would fight to retain possession and have them pay to fix it. Their have been several of these type of accidents where the value of the Bronco is brought to bear and if you hold out, you should be able to get it fixed. Dont think that because they offer you something that that is all that you can/will get. Agree to nothing. Get several shops to give you estimates and bring that back to the insurance company. Good luck.

 

[74BroncoCO]

I did this a year ago. Seems you are on the right track. I would right a letter to the insurance company stating why it's worth FAR more than $1400, because it really is. I would also gather some (you already have some) close to the same year/model/shape/and mods and the NADA and Kelly Blie Book value, and send that all in a package. Let them know that if they want to total it, they need to come up with a replacement that is near to yours. Mine was "really" totaled, but the insurance offered me almost 4 times than yours initially, but I fought for more. It looks to me that you could get your bronco fixed for less than $1400, but that is NOT the point. They may withdraw their "totaled" qualification when they realize it'll be cheaper to repair. But if they don't then you should get at least $5000 for your rig. At the VERY end after you have accepted all the terms, ask for a buy-back value. I bought mine back for $375. PM me with your email if you'd like to see my letter.

Maybe the insurance adjuster is thinking of buying it for himself?? Don't give in, stick to your guns and don't budge on your replacement value for at LEAST a month. The longer they jack with you, the more it costs to rent you a 4WD SUV!

J.D.

 

[wildbill]

;D ;D ;D What I did for a frend was find 4 or 5 same year as high as you can and tell them this is what it is worth. As they were only going to go 1800.00 for him and all the ones we could find were at 5500. 7000.00 and he ended up with 6500.00 for it took about 3 mo. Good luck with your's. Bill %)

 

[bandit]

Your best bet is to send them every simular Bronco you can find,picture and price.The problem is your premium obviously was based on thier figure of 1800.Be very carefull what you sign and agree to,you can be giving them rights to whats left of your Bronco,and not be able to get it back from them,if they stick with the totaled theory,dont ask me how I know,but I could not get mine back after someone rear ended it and it had to be towed.

 

[DonsBolt]

The adjuster who is handling my claim happens to have sold an EB of his own a year or so ago - so he knows the true value of the truck. He was already familiar with some of the EB sites online..
QUOTE]

I smell something very fishy here!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

If your adjustor, owned a EB before, as is familliar with the bords, looks like he is trying to pull a fast one on you. He knows the value of the truck, and should be fighting to get you full book value if they total it. I bet he wants it for himself. I would demand a new claims adjuster.

I agree with the others fight for your rights. I bet you can get the drivers side fixed and get them to paint the rest of it for you too.

If they fail to budge you can also go to your states attorny general, or state insurance deptment and file a complaint.

This sounds like insurance fraud to me. I don't know the laws in your state, but this could be criminal on your adjusters part, maybee the insurance company. If you took them to cuort, and won. The state might award you tripple damages over the $5100 book value. So maybee you could walk away with 15 grand. hehe

Save every peice of paper work they send you, and get everything in writing

 

[drscotch]

Depending on how the battle falls out, you might have a buy back option at the end. Up here the owner has first rights to buy back the vechicle after they write it off. I can't remember the formula but the buy back is fixed and it is normally pretty cheap. Both times I've taken the buy back option I've parted out the vehicle and ended up way ahead. The other option is to buy it back, fix it and then have it re-certified. Up here you can't register a write-off unless it's been re-certified. Depending on the damage it might not be a big deal.

Good luck. Insurance companies are so helpful and friendly until it comes time to pay out.

 

[cisco]

hey guys, i appreciate all the feedback.

i shouldve mentioned, the guy has already said that i am welcome to actually keep the truck even if it is totalled. the way he made it sound was that there would be no questions asked - they send me a check and i keep the truck.

since it is driveable, i hadnt looked into renting a car at all.. should i look into this?

ill be calling the guy tomorrow to make sure he got the faxes. i also had looked at a few in a trader mag - each of them going for way more than 5 grand.

i also wondered why they totalled it out for such little damage. they told me this after i had come up with the prices for the new door, fender and shipping.. door=$600, fender=$250, shipping=$600 both included, truck freight only. sounds steep to me! then theyd have to pay for the labor and paint..

i figure if i get the NADA value out of it i shouldnt squeal too much. less than that though i think id be getting ripped off.

 

[American Pride]

i used to be a claims adj/apr. in ny. my advice is to check your state ins web page it will tell you the rules the ins. co has to go by( that no one knows) in ny, (regulation 64) if you have prices of comparable vehicles from 3 reconized sources they must go by that (blue book, red book, classified ads...) if they are low balling you, there is a complant dep for ins., send them a letter and cc your ins co. (they can get fined from the state)

 

[GRIZZLY]

What is mechanically wrong? The body damage doesn't look bad at all. Get all you can from them, buy it back and do the work yourself. The front fender bolts on. Some minor bondo or buy a set of 1/4 panel covers from BC and cover the rear dent with some solid protection. Get a set of rocker skis and cover your rockers, and either get a new door or with all the extra money you'll have from not paying a shop to do this buy a soft top, roadster kit and soft doors. Cut and flare your rear fenders and your set. A lot of people end up swapping to an aftermarket upgraded radiator anyway so don't waste time on the stock one.

 

[slyjki]

What is mechanically wrong? The body damage doesn't look bad at all. Get all you can from them, buy it back and do the work yourself. The front fender bolts on. Some minor bondo or buy a set of 1/4 panel covers from BC and cover the rear dent with some solid protection. Get a set of rocker skis and cover your rockers, and either get a new door or with all the extra money you'll have from not paying a shop to do this buy a soft top, roadster kit and soft doors. Cut and flare your rear fenders and your set. A lot of people end up swapping to an aftermarket upgraded radiator anyway so don't waste time on the stock one.

i agree fight for the best price buy it back and fix it up with some money left over. If you buy your car back it doesnt end up with a rebuilt title stays clean. But only if your buying your own back.

 

[jpoore]

Not that it helps now, but you can have an agreed to value policy from Nationwide. This way you state what the value is and they adjust their rates accordingly. If its totaled, then they pay the agreed to value minus the deductable (or at least that's what my policy leads me to believe.)

JP

 

[supercoupe5]

whatever you settle for and you want the truck back to fix it try to get around fiving them the title if you buy it back or you will get an early bronco with a savage title

 

[bowhunter]

Cisco - You happen to be in luck.....I am in the insurance claims business.

The insurance company does not care what the truck is worth in "your" world, just what Nada says its worth.

The adjuster is using a calculation that the repair cost will exceed or reach a certain percentage of the replacement cost (their world), therefore, considered a "constructive total loss". This is very common when dealing with older cars.

With that said - that does not mean that you should accept the $1500 OFFER. Now - it is your duty to PROVE to them that the truck is worth a certain amount of money. My suggestion is to do a little research (nationwide) to find out what similar trucks are selling for. I would find approximately 10-15 trucks. Throw out the highest and lowest, average the others and then send him the information and explain that you will take that much.

Also, once you reach the amount that you are happy with, I would offer to buy back the salvaged truck. You could probably purchase it anywhere between $500 and 1500.

Good luck.

P.S.
Go to all the classified sections (rocky roads, Jeff's, Bronco Hut, etc.). You'll find the highest trucks there.

Good luck

 

[Mac2Night]

I went through this whole mess less than three months ago so I know your state of mind. So many of these guys and gals on this site helped me through their suggestions and support and I encourage you to heed their advice as well. The first adjuster who came out was a green horn and totalled the truck. Their offer was not acceptable, so I compiled a letter and over 30 pages of information and faxed it to them. They then sent out a "senior" adjustor who increased the offer by a thousand dollars and didn't total my truck AND I got to keep it without any salvage buy back costs. I will be glad to share my letter with you should you need it. Just email me at: macpitts@gsu.edu and I will send it off to you.

 

[cisco]

great advice from all of you! thanks!

im working on being patient. will start rounding up those references today.

got a call from the guy this morning, he said theyve worked the number up to $2050.00 ......

he then said he knows that these trucks go for way more than that and he is talking to his senior to try and get more money offered - i sure hope he does!

this forum is great..

 

[74BroncoCO]

great advice from all of you! thanks!

im working on being patient. will start rounding up those references today.

got a call from the guy this morning, he said theyve worked the number up to $2050.00 ......

he then said he knows that these trucks go for way more than that and he is talking to his senior to try and get more money offered - i sure hope he does!

this forum is great..

Be firm, say "That's not even close"

 

[cisco]

update-

got a call saying they had raised the amount to $4,500.00, which is what i paid for it. catch is, the buyback option would be "a maximum of $900.00" - leaving me a check for about $3,600.00

this doesnt sound too bad to me and im inclined to take the offer, but thought id go for one more round of opinions here first.

honestly, the damage isnt too bad in my eyes. i can swap the fender and door myself whenever i find a deal on those parts, and it needed a paint job anyway- which can wait.

right now id like to get the front end rebuilt (needs all the bushings and the 4x4 hubs rebuilt) and work on the brakes, which should still leave a bit left over for misc repairs. i dont mind driving with the dents for awhile..

what do you guys say? fair or no?

 

[drscotch]

That's sure a long way from where they started.

Just make sure you understand the implications of the write-off. In my neck of the woods the re-certification after a write-off can be a real PITA. Now if you know a licensed mechanic it can be a big plus. Also, the write-off becomes a permanent part of the vehicle record at the DMV in our system.